Keith Gill, the now-famous Reddit WallStreetBets trader, appears to have bought more shares of GameStop Corp. (NYSE: GME) after the price fell by 23%.
What Happened: Judging by a screenshot Gill shared on Friday afternoon, he bought 50,000 more shares of the stock. Gill previously showed he owned 50,000 shares, the Wall Street Journal reported, suggesting he has doubled down on his bet. That would put the value of his apparent GameStop holdings at more than $4 million.
Gill declined to comment to the Journal about the postings.
Why It Matters: Keith Gill gained popularity in the midst of Reddit’s WallStreetBets craze. He has been posting about GameStop for a year and also making videos on YouTube where he appears under the name “Roaring Kitty.”
He appeared at a Congressional hearing regarding Reddit’s influence on the market on Thursday, along with the CEOs of Robinhood, Citadel and Melvin Capital. He said he still sees potential in the future of the stock.
“I do find that it’s an attractive investment at this price point,” he said when asked about it.
Price Action: GameStop stock was trading at $42.88 in the post-market trading on Friday, having lost 22.54% in a week, while Palantir Technologies (PLTR:NYSE) seems to be getting attention from the WallStreetBets traders right now.
Image: Screenshot of Keith Gill’s video
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